Question: Please Solve All and Show work. 1A) 1B) In its first month of operations, Larkspur, Inc. made three purchases of merchandise in the following sequence:

Please Solve All and Show work.

1A)

Please Solve All and Show work. 1A) 1B) In its first month

1B)

of operations, Larkspur, Inc. made three purchases of merchandise in the following

In its first month of operations, Larkspur, Inc. made three purchases of merchandise in the following sequence: (1) 235 units at $10, (2) 470 units at $11, and (3) 435 units at $12. Assuming there are 170 units on hand, compute the cost of the ending inventory under the (a) FIFO method and (b) LIFO method. Larkspur uses a periodic inventory system. FIFO (a) Cost of the ending inventory 8135 LIFO (b) Cost of the ending inventory $ 3065 Marigold sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Marigold's purchases of EZslide snowboards during September. During the same month, 102 EZslide snowboards were sold. Marigold uses a periodic inventory system. Units 13 Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Inventory Purchases Purchases Purchases Totals Unit Cost $87 90 91 43 Total Cost $ 1,131 3,870 4,368 1,932 $11,301 48 21 92 125 Compute the ending inventory at September 30 and the cost of goods sold using the FIFO, LIFO, and average-cost methods. (Round per unit cost to 3 decimal places, e.g. 15.647 and final answers to O decimal places, e.g. 5,125.) FIFO LIFO Average-cost $ 2116 $ $ The ending inventory at September 30 Cost of goods sold $ $ $ $ $ $ 9222

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